A gas pipeline financed by the
\nEuropean Commission, to cross Bulgaria, Romania, Hungary and Austria is being
\nunder construction. On Monday, the Economy Ministry announced the European
\nInvestment Bank is granting the national natural gas operator, Transgaz, some 50 million Euros to finance
\nthe pipeline, this being the first installment of an approved loan worth 150 million Euros. The transaction
\nis supported by the European Fund for Strategic Investments, the financial
\npillar of the Investment Plan for Europe, known as the Juncker
\nPlan. <\/p>\n
<\/p>\n
Also, as part of the project, the European Investment Bank will
\nsupport Transgaz to conduct a strategic environmental assessment for its 10
\nyear development plan. The pipeline will connect Romania’s natural gas resources on the Black Sea Coast both to the
\nnational gas transport network and the BRUA corridor. The gas conveying systems
\nin South-Eastern Europe will be connected to those in Central and Western
\nEurope. The project announced by the European forum is aimed at building a 308
\nkm long gas transport pipeline and the needed surface infrastructure. <\/p>\n
<\/p>\n
The
\npipeline will connect the existing gas transport system to the new BRUA
\ncorridor in Podisor, west of Bucharest. The Vice-President of the European
\nCommission responsible for the Energy Union, Maros Sefcovic, has hailed this
\nproject which he has said will contribute to tightening energy security and
\nenhancing diversity in the region, which has already been characterized as
\nbeing severely vulnerable in terms of natural gas supplies. Maros Sefcovic has also said this is another
\nbrick in the construction of the Energy Union, thanks to which energy in the EU
\nwill be safer, more accessible and sustainable. Sefcovic has also said this is
\ngood news to gas consumers, as prices will go down. <\/p>\n
<\/p>\n
In turn, the Romanian
\neconomy minister Niculae B\u0103d\u0103l\u0103u has said this is a firm commitment to
\nRomania’s energy security and proof of Romania’s capacity to develop and implement
\nstrategic projects, with a positive impact on the whole of the European
\nUnion. The Transgaz CEO, Ion Sterian, has
\nsaid the connection of the gas extracted from the Black Sea area to the
\nnational conveying system on the Romanian and EU markets, respectively, is of strategic importance. He has said the financial support granted by
\nthe European Investment Bank will significantly contribute to expanding the
\nnational gas transport infrastructure. <\/p>\n
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The European Investment Bank has granted a 50 million Euro loan to Romania to finance the pipeline which connects the newly discovered gas deposits in the Black Sea to the national and European gas conveying pipelines<\/p>\n","protected":false},"author":2,"featured_media":80031,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[29804,29378,29737,30821,39529,33884,39530],"coauthors":[],"class_list":["post-80030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-brua","tag-energy-union","tag-european-investment-bank","tag-gas","tag-maros-sefcovic","tag-transgaz","tag-transgaz-ceo-ion-sterian"],"acf":[],"yoast_head":"\n